Partner Forges Signature, Siphons Rs1 Crore From Firm Nagpur: Ambazari police have registered a case after a woman partner alleged that a co-promoter forged her signature and diverted Rs 1.17 crore from their real-estate company’s account. The complainant, who is a partner in the firm, and the accused, Ashish Kahate (40), a resident of Deendayal Nagar, had established a private firm in 2012. The complainant held a 30% stake in the company, while Kahate, who had majority control, allegedly misused his position to siphon funds. According to the complaint, the firm’s account received Rs 1.17 crore from a client as payment for work completed. However, Kahate allegedly forged the complainant’s signature on the cheque and related documents without her knowledge, enabling him to transfer the entire amount to his personal account. The complainant discovered the fraud when she confronted Kahate, who reportedly abused and threatened her. The complaint states that Kahate exploited his majority control to deceive her, using forged documents to manipulate the company’s finances. The police have registered cases under sections of the Indian Penal Code (IPC) that pertain to criminal breach of trust, cheating, forgery, and criminal conspiracy. The investigation is ongoing, with authorities examining the forged documents and financial records to confirm the allegations. The case highlights the vulnerabilities in corporate governance, particularly in joint ventures where trust and transparency are critical. The incident underscores the importance of strict compliance with company rules, which in this case required both partners to be present and sign off on transactions from the joint account.#nagpur #ambazari_police #ashish_kahate #real_estate_company #deendayal_nagar
